AuthorTopic: Scheduled Disbursment (Read 608 times)

This is my first time appyling for any kind of private loan, so I'm not quite sure how things work.

My loans (I'm going with Citibank) are already set for disbursement on August 18. However, my bill says tuition must be paid in full by August 1. Does this mean I have to come up with the money by August 1st to meet the tuition deadline, or will this count as anticipated loan and be credited from my statement?

Also, how do I get the rest of the money? It seems the bank disburses the money to the school, so does this mean the school give me a check after August 18?

Usually, if schools know that you are getting loans, then they don't expect you to pay for tuition the day it's due. At my school this is how it works- the school gets all your loans sent to them, they then pay your tuition and fees, and what's left of it is then given to you, usually by a check or a direct deposit. You might want to call your school financial aid office and see how it works for them

Typically, tuition deadlines don't apply for tuition being paid by financial aid. Whenever it is dispursed is fine witheth elaw school. The school will give you the extra $ at some point after the dispersement (by check or direct deposit).